ICRC presents Fashola with Outline Business Case certificates

The Infrastructure Concession Regulatory Commission (ICRC), said it presented two Outline Business Case (OBC) compliance certificates to the Minister of Power, Works and Housing, Babatunde Fashola to boost infrastructure in the country.
Mrs Manji Yarling, Acting Head of Communications of ICRC, in a statement on Thursday, said the Director-General of the commission, Mr Chidi Izuwah made the presentation to the minister in Abuja.

According to Izuwah, the OBC certificates are in respect of the Marina Quayside Strip Project and the Joint Venture Partnership for the Repair of Transformers project in the country.

On the Marina Quayside Project, Izuwah said that the development would support the rebalancing of the economy.

“It will promote the growth of private sector employment from retail/leisure to high skilled occupations in creative, corporate, retail, digital industries and financial services.

The Marina Quayside project is an unsolicited proposal submitted to the Federal Ministry of Power, Works and Housing by Harris AIB Associates Ltd, a Lagos based firm of architects and developers.

It is a transformative urban/waterfront development Project intended to be a tourism centre that will provide hotels, condominiums, commercial complexes among many other facilities in the country.

The project is situated at the crossroads of Lagos Mainland and Victoria Island, Lagos.

Izuwah said the Joint Venture Partnership for the Repair of Transformers project on the other hand was an unsolicited proposal submitted by Kilowatt Electrics Ltd. (KWEL) to the Nigerian Electricity Management Services Agency (NEMSA).
He said that the company had proposed a joint venture partnership with NEMSA to operate the transformer repairs workshop in Ijora, Lagos.

“KWEL is also proposing a partnership in the construction of transformer repair workshops in Port Harcourt and Kaduna centres.

“ The partnership will also include the role of electrical inspection, testing and certification of all electrical installation hitherto performed by NEMSA,’’ he said.

Izuwah expressed delight at the milestone which the presentation of the OBC certificates would attain for the country’s infrastructure development.